It appears that robots can be soon called in to sell or purchase shares at stock markets. Or, that’s what a robotic arm ringing the closing bell at the Nasdaq Stock Exchange on Tuesday sounds like! The Universal Robot’s UR5 robot arm has now earned the distinction of becoming the first non-human to ring the closing bell, thereby honoring the launch of ROBO-STOX, a new stock index of robotics and automation technology firms. This has gone to establish that robots can now be believed to work alongside employees. Not only that, they are also affordable, and of course, easy to apply.

The specially designed arm of the UR5 robot was supported with a three-fingered gripper that rang the closing bell. Weighing not more than 40 pounds, the robot is capable of handling payloads up to 11.3 pounds. It was a 3D tablet touchscreen that enabled the robot arm to ring the bell.

Publicity Stunt

Elaborating on what prompted them to go for Universal Robots to ring the closing bell, co-founder of Robo-Stox and publisher of The Robot Report, Frank Tobe said: “We didn’t want to showcase robots that are only used in research labs. We wanted to show viable robotics technology, well-positioned for a future IPO, that is selling and being implemented in a wide range of industries today.”

Meanwhile, the ringing of bells at Nasdaq Stock Exchange by the UR5 has not gone well with a section of the people – the working class – who fear that sooner than later robots may take their pound of flesh by demanding a share of the job that they’ve been performing now. Gone are the days when robotics failed to find a lot of prominence on account of the expenditure involved. Now that robots are proving an affordable option, there are many companies who prefer them to perform vital tasks that humans do.

However, those who worry about robots coming to replace them at workplace can feel a sigh of relief, at least for the time being, as the International Federation of Robotics opines that robots are not going to pose any challenge to human workforce. Although robots lead to enhanced production and result in better wages, they’re unlikely to cause mass unemployment, according to the Federation.

Robo-Stox

In sharp contrast, employees and their unions feel that robots might come to perform 75 percent of their jobs in the near future. Nevertheless, Tobe says that it’s going to be the customers who’re likely to decide on the opportunities to be provided to the robots. For instance, he says, Bosch, a global firm, is focusing on developing technologies that will benefit people in areas like washing and cleaning. “Every manufacturer sees what consumers want and are just waiting for technology to catch up”, he observed.

Several manufacturers are now analyzing the possibility of buying robots in large numbers to work at a much faster pace and make money for them in a quick period of time. Says Tobe: “I just spoke with Apple iPhone’s China manufacturer Foxconn. They will be buying 30,000 to 50,000 robots a year to reach an eventual target of one million.”

With UR5 sending the bells ringing, it’s very much possible that robots will soon come to play a critical role in almost all major human activities, ranging from driving a car to wearing a dress.